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ANNUAL REPORT 2013

 
     
     
 

COMPARATIVE STATEMENT OF INCOME AND EXPENSES

 
 

For the Calendar Year Ended December 31, 2013

 
     
 

 

 
 

                            

STATEMENT OF INCOME AND EXPENSES - 2013
  ACTUAL BUDGET      DIFFERENCE       Inc. (Dec.)
INCOME      
   Income from Waterworks System P      9,944,208.69 P    10,268,388.75  P      (324,180.06) 
   Other Business Income 470,309.56 579,840.00 (109,530.44)
   Fines and Penalties 500,184.26 410,735.55 89,448.71

GROSS INCOME

10,914,702.51 11,258,964.30 (344,261.79)
       
LESS:  EXPENSES      
PERSONAL SERVICES      
   Salaries and Wages - Regular 2,235,511.78 2,545,416.00 (309,904.22)
   Salaries and Wages - Contractual 334,096.70 326,390.00 7,706.70
   Personal Economic Relief Allowance (PERA) 286,000.00 288,000.00 (2,000.00)
   Representation Allowance (RA) 60,000.00 48,000.00 12,000.00
   Transportation Allowance (TA) 60,000.00 48,000.00 12,000.00
   Clothing/Uniform Allowance 71,942.00 73,000.00 (1,058.00)
   Productivity Incentive Allowance 26,000.00 26,000.00 0.00
   Other Bonuses and Allowances 276,100.00 286,000.00 (109,900.00)
   Overtime and Night Pay 194,477.33 100,000.00 94,477.33
   Cash Gift 57,500.00 55,000.00 2,500.00
   Year End Bonus 186,321.62 234,592.00 48,270.38
   Life and Retirement Insurance Contributions 268,196.52 305,449.92 (37,253.40)
   PAG-IBIG Contributions 12,340.04 14,400.00 (2,059.96)
   PHILHEALTH Contributions 25,636,.03 29,850.00 (4,213.97)
   ECC - Contributions 14,060.00 14,400.00 (340.00)
   Terminal Leave Benefits 288,954.24 300,000.00 (11,045.76)
   Provident Fund Benefits 16,270.49 25,454.16 (9,183.67)
   Other Personal Benefits 28,257.50 26,000.00 2,257.50

Total Personal Services

4,441,664.25 4,845,952.08 (404,287.83)
       
MAINTENANCE AND OTHER OPERATING EXPENSES      
   Traveling Expenses - Local 197,791.49 205,300.00 (7,508.51)
   Training Expenses 163,855.76 142,000.00 21,855.76
   Office Supplies Expenses 82,934.32 75,000.00 7,934.32
   Accountable Forms Expense 60,378.89 30,000.00 30,378.89
   Gasoline, Oil and Lubricants Expenses 752,976.10 400,000.00 352,976.10
   Other Supplies Expenses 23,720.78 25,000.00 (1,279.22)
   Electricity Expense 146,363.54 210,000.00 (63,636.46)
   Postage and Deliveries 1,288.00 5,000.00 (3,712.00)
   Telephone Expenses - Landline 18,714.32 15,000.00 3,714.32
   Telephone Expenses - Mobile 13,726.00 12,000.00 1,726.00
   Internet Expenses 10,989.00 12,000.00 (1,011.00)
   Cable, Satellite, Telegraph and Radio Expenses 2,860.00 5,000.00 (2,140.00)
   Membership Dues & Contributions to Organization 5,295.40 5,000.00 295.40
   Advertising Expenses 17,400.0 35,000.00 (17,600.00)
   Rent Expense 3,120.00 2,000.00 1,120.00
   Representation Expenses 158,594.75 120,000.00 38,594.75
   Rewards and Other Claims 0.00 5,000.00 (5,000.00)
   Legal Services 0.00 5,000.00 (5,000.00)
   Auditing Services 0.00 35,000.00 (35,000.00)
   Board Members Allowances and Other Benefits 198,952.00 415,000.00 (216,048.00)
   Repairs and Maintenance - Water System and Structures 592,029.37 400,000.00 192,029.37
   Repairs and Maintenance - Office Buildings 92,813.00 5,000.00 87,813.00
   Repairs and Maintenance - Office Equipment 7,150.00 5,000.00 2,150.00
   Repairs and Maintenance - Furniture & Fixtures 330.00 5,000.00 (4,670.00)
   Repairs and Maintenance - IT Equipment 3,500.00 5,000.00 (1,500.00)
   Repairs and Maintenance - Machineries 0.00 5,000.00 (5,000.00)
   Repairs and Maintenance - Communication Equipment 0.00 5,000.00 (5,000.00)
   Repairs and Maintenance - Other Machineries & Equipment 0.00 5,000.00 (5,000.00)
   Repairs and Maintenance - Motor Vehicles 39,819.00 20,000.00 19,819.00
   Repairs and Maintenance - Reforestation 3,750.00 15,000.00 (11,250.00)
   Donations 0.00 10,000.00 (10,000.00)
   Taxes, Duties and Licenses 234,726.20 215,000.00 19,726.20
   Fidelity Bond Premiums 3,975.00 4,000.00 (25.00)
   Insurance Expenses 23,496.48 25,000.00 (1,503.52)
   Bad Debts Expense 99,396.53 75,000.00 24,396.53
   Depreciation - Land Improvement 3,424.32 0.00 3,424.32
   Depreciation - Water System and Structures 1,132,822.70 1,430,000.00 (297,177.30)
   Depreciation - Office Buildings 68,683.68 70,000.00 (1,316.32)
   Depreciation - Office Equipment 10,488.64 5,000.00 5,488.64
   Depreciation - Furniture and Fixtures 6,323.10 10,000.00 (3,676.90)
   Depreciation - IT Equipment 18,677.48 20,000.00 (1,322.52)
   Depreciation - Machineries 1,800.00 25,000.00 (23,200.00)
   Depreciation - Communication Equipment 2,284.20 3,500.00 (1,215.80)
   Depreciation - Other Machineries and Equipment 7,503.67 14,000.00 (6,496.33)
   Depreciation - Motor Vehicles 19,201.23 20,000.00 (798.77)

Total Maintenance and Other Operating Expenses

4,231,154.95 4,154,800.00 76,354.95
       
FINANCIAL EXPENSES      
   Bank Charges 100.00 1,000.00 (900.00)
   Interest Expense 1,942,251.13 1,997,918.77 (55,667.64)

Total Financial Expenses

1,942,351.13 1,998,918.77 (56,567.64)
       

TOTAL EXPENSES

10,615,170.33 10,999,670.85 (384,500.52)
       

Income (Loss) from Operation

299,532.18 259,293.45 40,238.73
       

Other Income (Loss)

     
   Interest Income 6,355.84 5,000.00     1,355.84

Total Other Income (Loss)

6,355.84 5,000.00 1,355.84
       

NET INCOME (LOSS)

305,888.02 264,293.45 41,594.57

 

 

 
   

 

 
 

                         

 
 
 
 
 

 

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